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REGISTERED NUMBER: 00223081 (England and Wales)















Llewellins Machine Company Limited

Abridged Unaudited Financial Statements

for the Year Ended 30 June 2023






Llewellins Machine Company Limited (Registered number: 00223081)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Llewellins Machine Company Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Ms J A Quant



REGISTERED OFFICE: 15 King Square
BRISTOL
BS2 8JH



REGISTERED NUMBER: 00223081 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Barclays Bank plc
15 Queens Square
Bristol
North Somerset
BS1 4NP

Llewellins Machine Company Limited (Registered number: 00223081)

Abridged Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 328,418 333,856
Investment property 6 2,174,261 2,174,261
2,502,679 2,508,117

CURRENT ASSETS
Stocks 115,094 79,963
Debtors 130,074 193,552
Cash at bank and in hand 1,026,841 1,115,848
1,272,009 1,389,363
CREDITORS
Amounts falling due within one year 117,502 143,642
NET CURRENT ASSETS 1,154,507 1,245,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,657,186

3,753,838

PROVISIONS FOR LIABILITIES (270,227 ) (268,784 )

PENSION LIABILITY 8 (215,244 ) (226,908 )
NET ASSETS 3,171,715 3,258,146

CAPITAL AND RESERVES
Called up share capital 6,726 6,726
Share premium 100 100
Revaluation reserve 7 1,756,530 1,756,530
Retained earnings 1,408,359 1,494,790
SHAREHOLDERS' FUNDS 3,171,715 3,258,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Llewellins Machine Company Limited (Registered number: 00223081)

Abridged Statement of Financial Position - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





Ms J A Quant - Director


Llewellins Machine Company Limited (Registered number: 00223081)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Llewellins Machine Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and over life of lease
Plant and machinery etc - 50% on reducing balance and 25% on reducing balance

Freehold land is not depreciated.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Llewellins Machine Company Limited (Registered number: 00223081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a discretionary unfunded defined benefit scheme for certain retired members of staff who were employed by the company for more than 25 years.

Current service costs, past service costs and gains and losses on settlements and curtailments are charged to the profit and loss account. The interest cost is shown as the net amount in the profit and loss account as other finance costs or income. Actuarial gains and losses are recognised immediately in the statement of total recognised gains or losses.

As the scheme is unfunded, the actuarial valuation of the scheme assets are accounted for as a provision in the accounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2022 1,431,754
Additions 27,218
Disposals (19,494 )
At 30 June 2023 1,439,478
DEPRECIATION
At 1 July 2022 1,097,898
Charge for year 30,343
Eliminated on disposal (17,181 )
At 30 June 2023 1,111,060
NET BOOK VALUE
At 30 June 2023 328,418
At 30 June 2022 333,856

Included in cost or valuation of land and buildings is freehold land of £ 80,000 (2022 - £ 80,000 ) which is not depreciated.

Llewellins Machine Company Limited (Registered number: 00223081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

The company has taken advantage of the transitional provisions of FRS102 to crystallise the revalued freehold property value.

Cost or valuation at 30 June 2023 is represented by:

Totals
£   
Valuation in 2015 135,519
Cost 1,303,959
1,439,478

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 185,211 185,211
Aggregate depreciation 99,307 96,923

Value of land in freehold land and buildings 30,000 30,000

Freehold land and buildings were valued on an open market basis on 15 June 1994 by King Sturge & Co. Chartered Surveyors .

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,174,261
NET BOOK VALUE
At 30 June 2023 2,174,261
At 30 June 2022 2,174,261

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 1,806,628
Cost 367,633
2,174,261

Llewellins Machine Company Limited (Registered number: 00223081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 367,633 367,633

Investment property was valued on an open market basis on 30 June 2022 by the directors .

The directors have revalued the properties held at 30 June 2022.

7. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 1,756,530

8. EMPLOYEE BENEFIT OBLIGATIONS

The company operates an unfunded defined benefit pension scheme on behalf of a selected number of employees.

The scheme had an actuarial valuation in 2016. The director has valued the scheme in 2023, as follows:

Fair value of scheme liabilities:20232022

Present value of liabilities(215,244)(226,908)

Deficit in scheme provided(215,244)(226,908)


Amounts recognised in the profit and loss account:20232022

Interest on pension scheme liabilities--
Settlement gain - leavers--
Settlement gain - deceased members--

Total charge--


Changes in present value of scheme liabilities:20232022

Brought forward226,908239,112
Interest paid on scheme liabilities--
Settlement gain - leavers--
Settlement gain - deceased members--
Pension benefits paid(11,664)(12,204)
Actuarial increase in scheme liabilities--

215,244226,908

Llewellins Machine Company Limited (Registered number: 00223081)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. ULTIMATE CONTROLLING PARTY

The controlling party is the W M Llewellin's Deceased Will Trust.

The ultimate controlling parties are: J A Quant, B L Quant, and M C Wilson, who are the co-trustees of the Trust which owns 87.68% of the issued share capital of the company. All trustees act in accordance with the trust rules.

In addition, J A Quant, a director, owns 3.42% of the company issued share capital.